Maksukyvyttömyysongelma

Maksukyvyttömyys, a Finnish term, translates to insolvency or bankruptcy in English. It describes a financial situation where an individual or a company is unable to meet their financial obligations, such as paying debts, as they become due. This can occur if a person or entity has insufficient assets to cover their liabilities, or if their cash flow is inadequate to meet ongoing expenses.

In the context of individuals, insolvency can lead to various legal processes aimed at resolving their debts. These might include debt restructuring, consumer bankruptcy, or other forms of insolvency proceedings. The goal is typically to provide a framework for creditors to recover some of what they are owed, while allowing the debtor to achieve a fresh financial start.

For companies, insolvency often signals the end of operations, though it can also lead to restructuring and continued business under new ownership or through administration. Insolvency proceedings for businesses can involve liquidation, where assets are sold off to pay creditors, or administration, where a supervisor attempts to rescue the company or achieve a better outcome for creditors than liquidation would.

The conditions leading to insolvency can be diverse, including economic downturns, poor financial management, unexpected personal crises, or a significant loss of income. Legal frameworks surrounding insolvency aim to balance the rights of debtors and creditors, providing a structured and regulated process for dealing with financial distress.